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New Chinese Multinationals Need ESG Focus

CHINA PRESS
MNI (BEIJING)
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Chinese firms should focus on ESG (environment, social and governance) responsibilities when expanding abroad to find win-win cooperation, according to Huang Sheng, director at the China-Europe Enterprise and Capital Market Research Center. Firms going abroad must respect local industry rules and aim to enlarge the cake rather than simply eliminate local competition. Huang emphasised companies need to seek "coexistence, symbiosis, and mutual benefit" when developing overseas operations and study how international firms expanded successfully in the Chinese domestic market over past decades. (Source: Yicai)

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Chinese firms should focus on ESG (environment, social and governance) responsibilities when expanding abroad to find win-win cooperation, according to Huang Sheng, director at the China-Europe Enterprise and Capital Market Research Center. Firms going abroad must respect local industry rules and aim to enlarge the cake rather than simply eliminate local competition. Huang emphasised companies need to seek "coexistence, symbiosis, and mutual benefit" when developing overseas operations and study how international firms expanded successfully in the Chinese domestic market over past decades. (Source: Yicai)